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13 Best Free Business Checking Accounts of June 2024

By Randa Kriss, Kelsey Sheehy
Last updated on May 2, 2024
Edited byRyan Lane
Fact checked and reviewed

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Free business checking accounts don't charge monthly fees. Most of these accounts come from online-only financial institutions. If you want branch access,
U.S. Bank Silver Business Checking
is a rare business checking account from a national bank with no monthly maintenance fee. But while you'll skirt that cost, you'll still face the many other incidental ones that are typical of brick-and-mortar banks.
The best no-fee small-business checking accounts limit those additional expenses, too. For instance, one of our top picks, the
nbkc Business Account
, has no maintenance fee, unlimited fee-free transactions, free ATM access and no overdraft charges. Other free business accounts on our list not only save you money — they actually earn you some by paying interest on your balances or cash back on your debit card spending.
Below are our complete picks for the best free checking accounts for small businesses. For additional options, scroll down to find the best free business checking accounts in your state.

Best Free Business Checking Accounts

Bank/institutionNerdWallet ratingMonthly feeAPYBonusLearn more

Bluevine Business Checking

Learn more

at Bluevine, Deposits are FDIC Insured

4.7/5

Best for Earning interest

$0

2.00%

With $0 min. balance for APY

N/A

Learn more

at Bluevine, Deposits are FDIC Insured

American Express® Business Checking

Learn more

at American Express National Bank, Member FDIC

5.0/5

Best for 24/7 customer support

$0

1.30%

With $0 min. balance for APY

N/A

Learn more

at American Express National Bank, Member FDIC

Grasshopper Business Checking Account

Learn more

at Grasshopper Bank, Member FDIC

4.5/5

Best for 1% cash back on debit card purchases

$0

2.25%

With $0 min. balance for APY

N/A

Learn more

at Grasshopper Bank, Member FDIC

U.S. Bank Silver Business Checking

Learn more

at U.S. Bank, Member FDIC

4.0/5

Best for Welcome bonus + branch access

$0

N/A$800

Requirements to qualify

Learn more

at U.S. Bank, Member FDIC

Relay Business Checking

Learn more

at Relay, Deposits are FDIC Insured

4.7/5

Best for Multiple business checking accounts (up to 20)

$0

N/A$100

Requirements to qualify

Learn more

at Relay, Deposits are FDIC Insured

nbkc Business Account

Learn more

at nbkc bank, Member FDIC

4.9/5

Best for Unlimited fee-free cash deposits via MoneyPass ATMs

$0

N/AN/A

Learn more

at nbkc bank, Member FDIC

Axos Bank® Basic Business Checking

Learn more

at Axos Bank®, Member FDIC

5.0/5

Best for Unlimited ATM fee refunds

$0

N/A$400

Requirements to qualify

Learn more

at Axos Bank®, Member FDIC

Lili Basic Business Checking

Learn more

at Lili, Deposits are FDIC Insured

4.3/5

Best for Early access to payments

$0

N/AN/A

Learn more

at Lili, Deposits are FDIC Insured

Found Small Business Banking

Learn more

at Found, Deposits are FDIC Insured

4.4/5

Best for Freelancers and side hustlers

$0

N/A$20

Requirements to qualify

Learn more

at Found, Deposits are FDIC Insured

Novo Business Checking

Learn more

at Novo, Deposits are FDIC Insured

4.4/5

Best for Cashless businesses

$0

N/AN/A

Learn more

at Novo, Deposits are FDIC Insured

Mercury Business Bank Account

Learn more

at Mercury, Deposits are FDIC Insured

4.1/5

Best for Free domestic and international wire transfers

$0

N/AN/A

Learn more

at Mercury, Deposits are FDIC Insured

Navy Federal Credit Union Business Checking

4.2/5

Best for Military families

$0

0.01%

With $0 min. balance for APY

N/A

Huntington Business Checking 100

3.9/5

Best for Overdraft grace period

$0

N/AN/A

Bank/institutionNerdWallet ratingMonthly feeAPYBonusLearn more

Bluevine Business Checking

Learn more

at Bluevine, Deposits are FDIC Insured

4.7/5

Best for Earning interest

$0

2.00%

With $0 min. balance for APY

N/A

Learn more

at Bluevine, Deposits are FDIC Insured

American Express® Business Checking

Learn more

at American Express National Bank, Member FDIC

5.0/5

Best for 24/7 customer support

$0

1.30%

With $0 min. balance for APY

N/A

Learn more

at American Express National Bank, Member FDIC

Grasshopper Business Checking Account

Learn more

at Grasshopper Bank, Member FDIC

4.5/5

Best for 1% cash back on debit card purchases

$0

2.25%

With $0 min. balance for APY

N/A

Learn more

at Grasshopper Bank, Member FDIC

U.S. Bank Silver Business Checking

Learn more

at U.S. Bank, Member FDIC

4.0/5

Best for Welcome bonus + branch access

$0

N/A$800

Requirements to qualify

Learn more

at U.S. Bank, Member FDIC

Relay Business Checking

Learn more

at Relay, Deposits are FDIC Insured

4.7/5

Best for Multiple business checking accounts (up to 20)

$0

N/A$100

Requirements to qualify

Learn more

at Relay, Deposits are FDIC Insured

nbkc Business Account

Learn more

at nbkc bank, Member FDIC

4.9/5

Best for Unlimited fee-free cash deposits via MoneyPass ATMs

$0

N/AN/A

Learn more

at nbkc bank, Member FDIC

Axos Bank® Basic Business Checking

Learn more

at Axos Bank®, Member FDIC

5.0/5

Best for Unlimited ATM fee refunds

$0

N/A$400

Requirements to qualify

Learn more

at Axos Bank®, Member FDIC

Lili Basic Business Checking

Learn more

at Lili, Deposits are FDIC Insured

4.3/5

Best for Early access to payments

$0

N/AN/A

Learn more

at Lili, Deposits are FDIC Insured

Found Small Business Banking

Learn more

at Found, Deposits are FDIC Insured

4.4/5

Best for Freelancers and side hustlers

$0

N/A$20

Requirements to qualify

Learn more

at Found, Deposits are FDIC Insured

Novo Business Checking

Learn more

at Novo, Deposits are FDIC Insured

4.4/5

Best for Cashless businesses

$0

N/AN/A

Learn more

at Novo, Deposits are FDIC Insured

Mercury Business Bank Account

Learn more

at Mercury, Deposits are FDIC Insured

4.1/5

Best for Free domestic and international wire transfers

$0

N/AN/A

Learn more

at Mercury, Deposits are FDIC Insured

Navy Federal Credit Union Business Checking

4.2/5

Best for Military families

$0

0.01%

With $0 min. balance for APY

N/A

Huntington Business Checking 100

3.9/5

Best for Overdraft grace period

$0

N/AN/A

Access real-time financial insights and recommendations

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I'M INTERESTED IN:

Our pick for

Earning interest

Bluevine Business Checking

Read Review
Learn more

at Bluevine, Deposits are FDIC Insured

APY
2.00%

With $0 min. balance for APY

Monthly fee
$0
Min. opening deposit
$0
Free cash deposits
No

Fees vary by location.

Overdraft fees
$0
Bonus
N/A

Our pick for

24/7 customer support

American Express® Business Checking

Read Review
Learn more

at American Express National Bank, Member FDIC

APY
1.30%

With $0 min. balance for APY

Monthly fee
$0
Min. opening deposit
$0
Free cash deposits
No

No cash deposits.

Overdraft fees
N/A
Bonus
N/A

Our pick for

1% cash back on debit card purchases

Grasshopper Business Checking Account

Read Review
Learn more

at Grasshopper Bank, Member FDIC

APY
2.25%

With $0 min. balance for APY

Monthly fee
$0
Min. opening deposit
$100
Free cash deposits
No

No cash deposits.

Overdraft fees
$0
Bonus
N/A

Our pick for

Welcome bonus + branch access

U.S. Bank Silver Business Checking

Read Review
Learn more

at U.S. Bank, Member FDIC

APY
N/A
Monthly fee
$0
Min. opening deposit
$100
Free cash deposits
Yes

Up to $2,500 per month.

Overdraft fees
$36
Bonus
$800

Requirements to qualify

Our pick for

Multiple business checking accounts (up to 20)

Relay Business Checking

Read Review
Learn more

at Relay, Deposits are FDIC Insured

APY
N/A
Monthly fee
$0
Min. opening deposit
$0
Free cash deposits
Yes

Unlimited

Overdraft fees
$0
Bonus
$100

Requirements to qualify

Our pick for

Unlimited fee-free cash deposits via MoneyPass ATMs

nbkc Business Account

Read Review
Learn more

at nbkc bank, Member FDIC

APY
N/A
Monthly fee
$0
Min. opening deposit
$0
Free cash deposits
Yes

Unlimited

Overdraft fees
$0
Bonus
N/A

Our pick for

Unlimited ATM fee refunds

Axos Bank® Basic Business Checking

Read Review
Learn more

at Axos Bank®, Member FDIC

APY
N/A
Monthly fee
$0
Min. opening deposit
$0
Free cash deposits
Yes

Unlimited

Overdraft fees
$25
Bonus
$400

Requirements to qualify

Our pick for

Early access to payments

Lili Basic Business Checking

Read Review
Learn more

at Lili, Deposits are FDIC Insured

APY
N/A
Monthly fee
$0
Min. opening deposit
$0
Free cash deposits
No

Fee of up to $4.95 per cash deposit.

Overdraft fees
$0
Bonus
N/A

Our pick for

Freelancers and side hustlers

Found Small Business Banking

Read Review
Learn more

at Found, Deposits are FDIC Insured

APY
N/A
Monthly fee
$0
Min. opening deposit
$0
Free cash deposits
No

$2 fee per deposit

Overdraft fees
$0
Bonus
$20

Requirements to qualify

Our pick for

Cashless businesses

Novo Business Checking

Read Review
Learn more

at Novo, Deposits are FDIC Insured

APY
N/A
Monthly fee
$0
Min. opening deposit
$0
Free cash deposits
No

No cash deposits.

Overdraft fees
$0
Bonus
N/A

Our pick for

Free domestic and international wire transfers

Mercury Business Bank Account

Read Review
Learn more

at Mercury, Deposits are FDIC Insured

APY
N/A
Monthly fee
$0
Min. opening deposit
$0
Free cash deposits
No

No cash deposits.

Overdraft fees
$0
Bonus
N/A

Our pick for

Military families

Navy Federal Credit Union Business Checking

APY
0.01%

With $0 min. balance for APY

Monthly fee
$0
Min. opening deposit
$255
Free cash deposits
Yes

Unlimited

Overdraft fees
$29
Bonus
N/A

Our pick for

Overdraft grace period

Huntington Business Checking 100

APY
N/A
Monthly fee
$0
Min. opening deposit
$0
Free cash deposits
Yes

Up to $2,500 per month.

Overdraft fees
$36
Bonus
N/A

🤓 Nerdy Tip

Want to earn more interest on your company’s cash? Consider a business savings account in addition to your business checking account. These accounts are also often free and can pay APYs as high as 4% or more. You can easily open one online, too.

How to compare free business checking accounts

Finding a small-business checking account with no monthly fees is a great start, but you also want to factor in things like account limits or transaction caps that could cost your business money.
  1. Understand your business's needs. Every business operates differently. Some make regular cash deposits, while others deal solely with electronic transactions. Some need built-in bookkeeping and invoicing, while others need their bank account to integrate with the tools they already use. The unique needs of your small business will determine your priority features in a business checking account.
  2. Look at upfront costs. You can open most free business accounts with no deposit, but a handful require at least $100 up front to open your account.
  3. Consider cash deposits. There's a lot of overlap between free and online business checking accounts. Online-only banks often have strict limits on how much cash you can deposit at once or charge fees for doing so. Some don't support cash deposits at all. If your business deals with cash, make sure to choose an account without those restrictions.
  4. Be aware of incidental fees and transaction limits. Pay close attention to the fine print. Some free business checking accounts charge for out-of-network ATM use, cash deposits, wire transfers and overdrafts. Some also limit the number of transactions you can make each month for free. See NerdWallet's picks for the best business bank accounts to compare cash deposits, branch access and other features, and see below for more details about these fees.
  5. Factor in additional perks and features. Some business checking accounts earn interest or offer cash back when you use your business debit card. A few offer both. And many offer additional features, like bookkeeping software, tax-planning tools and free invoicing. Weigh these perks and benefits when choosing an account.
  6. Decide how you want to open an account. Convenience is key when choosing a business account, including how easy it is to open. You can open a business checking account online in minutes with digital banks and even most brick-and-mortar banks. But some still require you to open a business account in person or to talk to a staff member over the phone.

How much do banks charge for a business account?

The cost of a business account varies by bank and account type. The most common fee is for monthly maintenance, which usually starts around $10. Most banks will waive this charge if you maintain a specific average monthly balance or meet other qualifications.
More expensive accounts usually come with more benefits, like better interest rates, higher transaction limits or extra software features. But make sure the value of those features is worth the cost to you. Many business owners can likely get what they need from an account that doesn't charge monthly fees at all.
While free business checking accounts skip that maintenance fee, you'll still probably run into other charges. Review your depositor agreement to understand all the potential costs, but here are some common fees to be aware of when choosing a business account:

Free business checking accounts by state

If you want to keep your business local and prefer a smaller bank, choose your state to find free business checking accounts in your area:
Lili is a financial technology company, not a bank. Banking services provided by Sunrise Banks N.A., Member FDIC.
Last updated on May 2, 2024

Methodology

NerdWallet evaluates more than 30 business bank accounts from national, regional and online banks. Collectively, these accounts represent the largest banks by assets, internet search traffic and other factors, along with notable or emerging players in the industry.
We consider more than 20 data points for each account, scoring them on fees, perks and accessibility, among other factors. This information is gathered from each financial institution's website and company representatives. In addition, data is collected regularly and reviewed by our editorial team for consistency and accuracy.
Final star ratings are presented on a scale of one to five stars, where a one-star score represents "poor" and a five-star score represents "excellent." Learn more about how we rate business checking accounts.

Frequently Asked Questions

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